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Bitcoin Bull Anthony Pompliano Says BTC Could Save General Electric Employees’ Pension

  • Yuri Molchan
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    Bitcoin bull Anthony ‘Pomp’ shares information about difficulties in the pension scheme of General Electric giant, says Bitcoin is a way out for pension funds

Bitcoin Bull Anthony Pompliano Says BTC Could Save General Electric Employees’ Pension
Cover image via u.today
Contents

The co-founder of the Morgan Creek Digital fund and a prominent Bitcoin evangelist Anthony Pompliano often comes up with new arguments for an increase in Bitcoin adoption by financial institutions globally.

In one of his interviews to CNBC, he stated that it is irresponsible for modern institutional investors not to have Bitcoin in their portfolio. Recently, he said that Bitcoin offers different things to different people, such as being impossible to be seized or manipulated by governments.

 

General Electric freezes pension for its employees

Now, Pompliano has shared news that the General Electric giant has left 20,000 of its staffers without pension. He points out that the pension issue is only going to become worse in the future and that pension funds should embrace Bitcoin.

Pompliano seldom mentions Bitcoin’s volatility but all his forecasts imply that in the near future Bitcoin price is going to surge tremendously. He does often warn his followers on Twitter to invest in Bitcoin and other crypto only what they can afford to lose.

This is not the first time, Pomp has mentioned the problem of pensions in the US.

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Hong Kong, India are embracing Bitcoin

In his daily letter to investors of Morgan Creek Digital, Anthony Pompliano looks at several regions that are turning towards Bitcoin actively right now or that can potentially welcome a wide Bitcoin adoption.

In particular, he looks at Hong Kong, India and Venezuela. As was reported by U.Today on Monday, due to the protests in Hong Kong and a severe response from the police and the military against people marching in the streets, local ATM are either empty of cash or have very long queues. This could be a ready environment for Bitcoin adoption.

Besides, he mentions a very high trading volume in Hong Kong recently, as well as a great capital flight from the country.

He also talks about the current situation with banks in India and hyperinflation in Venezuela. The population in India has a high potential to use Bitcoin. Venezuela has been doing it since 2017 and earlier and is even planning to start forming its foreign reserves, using Bitcoin and Ethereum.

Pompliano writes:

“Bitcoin provides a transparent, disciplined system that continues to store wealth safely. Now this doesn’t mean that individuals are going to place 100% of their wealth in Bitcoin tomorrow. The asset is still highly volatile. But just as I mentioned in the beginning of this letter, Bitcoin’s properties of 24/7/365 access, non-seizability, and non-censorship become much more important to people in areas where lack of access to your wealth becomes a problem.”

 

What's your view on the pension issue in the US? Can Bitcoin help solve this approaching problem? Feel free to leave a comment!

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
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    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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